Quicksilver, Inc. (NYSE:ZQK) reported lower revenue and a bigger loss for its fiscal first quarter 2011, ended January 31.
The Huntington Beach, Calif.-based outdoor lifestyle clothier and retailer, said on March 10 its latest quartetly revenue dipped to $426.5 million, down 1.4 percent from the same period a year ago. Company officials said revenue was up in constant currency terms for the first time in nine quarters.
Quicksilver’s fiscal first-quarter net loss widened to nearly $16.3 million, or a loss of $0.10 per diluted share, compared to a net loss of nearly $5.4 million, or a loss of $0.04 per diluted share during the same period a year ago.
Quicksilver CEO and President Robert B. McKnight said in a statement the company expects its fiscal 2011 to be a transition year, after some previous financial restructuring, with “growth accelerating in the second half of the year and beyond.”
--Compiled by David Clucas
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